EchoStar (NASDAQ:SATS) Upgraded by StockNews.com to Sell Rating

StockNews.com upgraded shares of EchoStar (NASDAQ:SATS - Free Report) to a sell rating in a research report sent to investors on Saturday.

A number of other analysts have also issued reports on the stock. Morgan Stanley boosted their target price on shares of EchoStar from $14.00 to $20.00 and gave the company an "equal weight" rating in a research note on Friday, September 13th. TD Cowen dropped their target price on shares of EchoStar from $38.00 to $37.00 and set a "buy" rating on the stock in a research note on Monday, August 12th. UBS Group raised their target price on shares of EchoStar from $14.00 to $15.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $12.00 price target on shares of EchoStar in a report on Monday, August 12th. Finally, Raymond James cut EchoStar from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, EchoStar has a consensus rating of "Hold" and a consensus target price of $21.00.

EchoStar Price Performance

NASDAQ:SATS traded down $0.26 during trading hours on Friday, reaching $25.81. The stock had a trading volume of 1,258,856 shares, compared to its average volume of 1,769,666. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.32 and a current ratio of 0.40. EchoStar has a 52 week low of $9.53 and a 52 week high of $30.08. The stock has a market capitalization of $7.01 billion, a PE ratio of -3.00 and a beta of 0.70. The company has a 50 day moving average price of $24.48 and a two-hundred day moving average price of $20.38.

EchoStar (NASDAQ:SATS - Get Free Report) last released its quarterly earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) EPS for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.39). EchoStar had a positive return on equity of 0.18% and a negative net margin of 18.65%. The firm had revenue of $3.95 billion for the quarter, compared to analysts' expectations of $3.98 billion. During the same period in the prior year, the firm posted $0.39 earnings per share. EchoStar's revenue for the quarter was down 9.3% on a year-over-year basis. As a group, sell-side analysts anticipate that EchoStar will post -1.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EchoStar

Several hedge funds have recently modified their holdings of SATS. Intech Investment Management LLC bought a new position in shares of EchoStar in the 3rd quarter worth $651,000. Natixis Advisors LLC grew its stake in EchoStar by 9.8% in the third quarter. Natixis Advisors LLC now owns 21,790 shares of the communications equipment provider's stock valued at $541,000 after purchasing an additional 1,942 shares during the last quarter. Empowered Funds LLC raised its holdings in EchoStar by 5.4% in the third quarter. Empowered Funds LLC now owns 324,416 shares of the communications equipment provider's stock worth $8,052,000 after purchasing an additional 16,595 shares in the last quarter. Victory Capital Management Inc. raised its holdings in EchoStar by 11.0% in the third quarter. Victory Capital Management Inc. now owns 46,767 shares of the communications equipment provider's stock worth $1,161,000 after purchasing an additional 4,626 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of EchoStar during the third quarter valued at about $285,000. Hedge funds and other institutional investors own 33.62% of the company's stock.

EchoStar Company Profile

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.